Houston Chronicle Houston oil giant EOG Resources has sold nearly half of its saltwater disposal wells in the New Mexico side of the Permian Basin. EOG Resources confirmed the sale of 23 saltwater disposal wells and 300 miles of oilfield wastewater gathering pipelines in southeastern New Mexico to Dallas-based Oilfield Water Logistics. Financial terms were not disclosed but under the
Chron – In 2019, Permian production started the year at 3.8 million barrels per day, a million barrels higher than 2018. Drilling activity in the booming Permian Basin must accelerate just in order to maintain current production volumes, according to a new report from the research firm IHS Markit. The Permian’s oil output has risen rapidly in recent years from
BOGOTÁ, Colombia, Nov. 13, 2019 /PRNewswire/ — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“the Company”) informs that today it completed the joint venture transaction announced last July 31, 2019. Through this deal, the Company and Occidental Petroleum Corp (NYSE: OXY) agreed to form a strategic alliance or Joint Venture (“JV”) for the development of unconventional reservoirs in approximately 97,000 acres of the Permian Basin in the State of Texas (US). For these purposes, Ecopetrol Permian
Houston Chronicle Midland’s Concho Resources reported a rising profit and increased oil production for the third quarter, helping to right the ship after disastrous results earlier this year. Fairly or not, Concho was pegged as a poster child for weakening returns in the booming Permian Basin after its so-called Dominator project spaced 23 wells too closely together and led to disappointing production results. Concho’s stock
Source: Reuters NEW YORK (Reuters) – Enterprise Products Partners LP said on Monday it expects its Midland-to-ECHO 3 and 4 Permian crude pipeline system expansions will add about 450,000 barrels per day (bpd) each of additional capacity. Midland-to-ECHO 4 is further expandable up to 540,000 bpd, Jim Teague, chief executive of Enterprise’s general partner, said on its quarterly earnings call.
Source: Houston Chronicle A new study from the University of Texas at Austin is blaming hydraulic fracturing activity on some earthquakes in the Permian Basin of West Texas. In a study released Tuesday afternoon, scientists with the TexNet Seismic Monitoring Program reported that some earthquakes in Reeves, Pecos and Culberson counties may be caused by hydraulic fracturing, a process of injecting water,
Source: Houston Chronicle Austin-based Parsley Energy said it will pay $1.65 billion to acquire Denver’s Jagged Peak Energy in a combination of Permian Basin players. The all-stock deal turns Parsley into a buyer at a time when energy analysts believed it would be more likely instead for Parsley to be scooped up by a Big Oil major looking to further
By Tyler Losier, Energy Reporter, Oil & Gas 360 Paul F. Blanchard Jr. steps down as president, CEO and director of Panhandle Oil and Gas Panhandle Oil and Gas (stock ticker: PHX), a mineral and leasehold acreage-focused capital allocator, has announced that Paul F Blanchard Jr., the company’s president, chief operating officer and a member of its board of directors,
By Tyler Losier, Energy Reporter, Oil & Gas 360 Enerflex names Sanjay Bishnoi as senior vice president and CFO, David Izett as senior vice president and general counsel Enerflex Ltd. (stock ticker: ENRFF), a Calgary-based oilfield service company, has appointed Sanjay Bishnoi as senior vice president and chief financial officer, and David H. Izett as senior vice president and general
By Tyler Losier, Energy Reporter, Oil & Gas 360 H2O Midstream purchases produced water infrastructure from Sabalo Energy and executes a 15-year acreage dedication H2O Midstream LLC, a water infrastructure company based in Houston, has acquired produced water infrastructure from Sabalo Energy LLC, concurrent with the execution of a 15-year acreage dedication to provide produced water gathering, disposal and recycling
From The Houston Chronicle The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring. U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in 2018, setting new production records, according to a new report from the U.S. Energy Department. The U.S. surpassed Saudi Arabia
From Reuters U.S. crude oil stockpiles fell more than expected last week with supplies at the Cushing, Oklahoma hub dropping for a seventh week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels in the week to Aug. 16, compared with analysts’ expectations for a decrease of 1.9 million
